The two types of checklists — one precise, picky, and step-by-step; the other one structured to ensure that everyone sees the big picture and works together to solve problems — reveal a surprising philosophy “about power and what should happen to it when you’re confronted with complex, nonroutine problems.” Rather than a traditional command-and-control approach to deal with those situations, power needs “to be pushed out of the center as far as possible.”

I also like this quote about HFT (bolding mine). A lot of the critics of HFT don’t seem to understand this simple point:

And at its core, quantitative investment — be it via the old fashioned monthly rebalancing variety or today’s algorithms that operate in nanoseconds — is an automation of checklists.